Corsair Gaming (NASDAQ:CRSR) Rating Increased to Strong-Buy at Wall Street Zen

Wall Street Zen upgraded shares of Corsair Gaming (NASDAQ:CRSR) from a buy rating to a strong-buy rating in a report published on Saturday morning.

A number of other research firms have also recently commented on CRSR. Barclays lowered their price target on Corsair Gaming from $9.00 to $8.00 and set an “overweight” rating on the stock in a report on Friday, February 13th. B. Riley Financial boosted their target price on shares of Corsair Gaming from $6.00 to $7.00 and gave the stock a “neutral” rating in a report on Friday, February 13th. Robert W. Baird set a $6.00 target price on shares of Corsair Gaming in a research note on Friday, February 13th. Zacks Research upgraded shares of Corsair Gaming from a “hold” rating to a “strong-buy” rating in a research note on Thursday, February 12th. Finally, Wedbush reissued an “outperform” rating and set a $7.00 price objective on shares of Corsair Gaming in a report on Tuesday, February 17th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $7.71.

Corsair Gaming Stock Up 0.7%

Shares of CRSR stock opened at $5.62 on Friday. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.54 and a quick ratio of 0.84. Corsair Gaming has a one year low of $4.48 and a one year high of $13.02. The company’s fifty day moving average price is $5.67 and its 200-day moving average price is $7.08. The company has a market capitalization of $598.92 million, a price-to-earnings ratio of -43.23 and a beta of 1.55.

Corsair Gaming (NASDAQ:CRSR) last issued its quarterly earnings results on Thursday, February 12th. The company reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.17. Corsair Gaming had a positive return on equity of 6.71% and a negative net margin of 0.87%.The business had revenue of $436.86 million during the quarter, compared to analyst estimates of $422.66 million. During the same quarter in the prior year, the business posted $0.23 EPS. Corsair Gaming’s revenue for the quarter was up 5.6% compared to the same quarter last year. Sell-side analysts expect that Corsair Gaming will post 0.22 EPS for the current fiscal year.

Insider Buying and Selling

In other Corsair Gaming news, CEO Thi L. La acquired 50,000 shares of the company’s stock in a transaction on Tuesday, November 25th. The stock was acquired at an average cost of $6.10 per share, with a total value of $305,000.00. Following the purchase, the chief executive officer directly owned 480,726 shares of the company’s stock, valued at approximately $2,932,428.60. This represents a 11.61% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. 58.38% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Ameritas Investment Partners Inc. grew its position in Corsair Gaming by 30.7% in the second quarter. Ameritas Investment Partners Inc. now owns 4,765 shares of the company’s stock worth $45,000 after acquiring an additional 1,120 shares in the last quarter. Virtus Advisers LLC bought a new stake in shares of Corsair Gaming in the 2nd quarter valued at approximately $45,000. Tower Research Capital LLC TRC boosted its holdings in shares of Corsair Gaming by 245.9% in the 2nd quarter. Tower Research Capital LLC TRC now owns 5,178 shares of the company’s stock worth $49,000 after purchasing an additional 3,681 shares during the period. Kemnay Advisory Services Inc. bought a new position in shares of Corsair Gaming during the 4th quarter valued at approximately $37,000. Finally, BNP Paribas Financial Markets increased its position in shares of Corsair Gaming by 24.7% during the 2nd quarter. BNP Paribas Financial Markets now owns 7,819 shares of the company’s stock valued at $74,000 after purchasing an additional 1,551 shares during the last quarter. Institutional investors own 25.66% of the company’s stock.

Corsair Gaming Company Profile

Corsair Gaming, Inc, headquartered in Fremont, California, is a leading manufacturer of high-performance gaming peripherals and PC components. Since its founding in 1994 by Andy Paul, Don Lieberman and John Beekley as Corsair Microsystems, the company has evolved from producing memory modules to a broad portfolio of gaming hardware. Its product range includes gaming keyboards, mice, headsets, PC chassis, power supplies, cooling solutions, memory modules, solid-state drives and streaming accessories under brands such as Corsair, Elgato and SCUF Gaming.

The company’s solutions cater to PC enthusiasts, competitive gamers and content creators, offering hardware and integrated software designed to optimize performance and user experience.